$PEPE

💡 Pepe Coin Price Set to Crash 30% As Top Holders Sell PEPE ! 🌎

🔥 Explore some of the reasons why the Pepe Coin price could crash by 30% in the near term as big holders sell and as a rising wedge forms.

The recent Pepe coin price rebound could be nearing its end as some top holders start exiting and as active addresses fall. It could also come under pressure after forming a popular bearish chart pattern.

👀Pepe Coin Price Is At Risk As Top Holders Scale Back:

Pepe, the third biggest meme coin, has recovered by over 40% from its lowest level in December as investors bought the dip.

Now, however, there are signs that some big holders have started to sell the coin, which could lead to more weakness in the near term. Santiment data shows that the supply held by top addresses as a percentage of total supply has dropped to 39.78 billion, down from over 45 billion tokens a few weeks ago.

More data by IntoTheBlock shows that the number of addresses has continued falling in the past few weeks. New addresses have fallen by 13.21% in the last seven days, while active addresses have dropped by 3.90%. This decline is a sign that many users anticipate that the token price will continue falling.

Meanwhile, smart money investors have also started to sell the Pepe coin as its price dropped from its all-time high. There are now just 90 smart money holders of the coin, down from near 110 a few weeks ago.

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